A financing agreement for IDA credit of US$ 48 million (equivalent) for the Nagaland Health Project was signed with the World Bank in New Delhi today. The Financing Agreement was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Genevieve Connors, Acting Country Director, World Bank (India) […]
Public Sector Banks account holders are in for it a treat! Because in order to further promote digital and card payments, the Department of Financial Services (DFS), Ministry of Finance has issued a direction in public interest to all Public Sector Banks(PSBs), in accordance with which these banks shall not charge fees for transactions settled […]
Government has reacted after media reports said that the Government may be bringing an amendment to the Payment of Wages Act to make mandatory the payment of wages to the workers only through cheque or accounts transfers. This is not the correct position. On Wages Act, Government has issued a note stating: It is clarified […]
Tax evasion is a major issue in India and a challenge for the Indian government. Today, India took another major step in the fight against tax evasion, “round tripping” and “base erosion/profit shifting”. The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for signing of an Agreement and the Protocol […]
New Delhi, 30-July, 2016: Central Board of Direct Taxes (CBDT) has extended the due date for filing of the Income tax returns by certain persons under the Income Tax Act is 31st July of the following year. However, taking into consideration the strike by Public Sector Banks (PSBs) on Friday, 29th July, 2016 and the […]
